Press release
Top Market Shifts Transforming the Geomarketing Market Landscape: Key Insights
Geomarketing
What Is the Expected CAGR for the Geomarketing Market Through 2025?
There has been a significant expansion in the size of the geomarketing market in the past few years. The market value is expected to rise from $21.34 billion in 2024 to $26.48 billion in 2025, with a compound annual growth rate (CAGR) of 24.1%. Factors such as data analytics, location-based services, the increase of e-commerce, and retail growth have contributed to the rise during the historic period.
What's the Projected Size of the Global Geomarketing Market by 2029?
The estimated growth for the geomarketing market appears to be exponential in the upcoming years. The market is predicted to expand to $62.89 billion by 2029, with a compound annual growth rate (CAGR) of 24.1%. The expansion in the forecast period can be credited to factors like IOT and linked devices, geomarketing personalization, indoor geomarketing, and ethically transparent practices. The forecast period also indicates major trends like big data and AI, augmented reality (AR) and virtual reality (VR), and data visualization.
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Top Growth Drivers in the Geomarketing Industry: What's Accelerating the Market?
The geomarketing market is poised for growth, spurred on by increasing demands for personalized marketing. Personalized marketing leverages data analytics and digital technology to personalize messages and product promotions for existing or potential clients. This strategy, made effective by geomarketing through location-specific targeting, is becoming increasingly essential. For example, an analysis by Salesforce Inc., a US-based cloud software firm, in May 2022 found that 73% of surveyed consumers (out of 13,000) expected companies to understand their unique needs, while 61% were satisfied with businesses using their personal data in a beneficial and transparent manner. Thus, this escalating need for personalized marketing propels the growth of the geomarketing industry. Geomarketing Market Driver: Increasing Mobile Device Usage Fuels Growth in the Geomarketing Market
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What Trends Will Shape the Geomarketing Market Through 2029 and Beyond?
Leading businesses within the Geomarketing sector are centering their attention on crafting new state-of-the-art solutions like location-based service technology that uses artificial intelligence (AI) to offer top-notch customer service. These AI-powered location-based services employ AI to assess location data and deliver customized user experiences. For instance, INRIX Inc., a US software company, unveiled an innovative AI-based technology called INRIX Compass in November 2023, aiming to transform transportation intelligence. It utilizes INRIX's extensive data lake of almost 50 petabytes and generative artificial intelligence (GenAI) to effectively handle transportation-related challenges. This new technology optimizes INRIX IQ, an eminent selection of cloud-based applications, by facilitating the swift availability of actionable intelligence drawn from location-specific data.
What Are the Main Segments in the Geomarketing Market?
The geo marketing market covered in this report is segmented -
1) By Solution: Software, Service
2) By Deployment Mode: Cloud, On-Premises
3) By Location: Indoor, Outdoor
4) By Verticals: Retail And E-Commerce, Healthcare And Life Sciences, Travel And Hospitality, Banking, Financial Services And Insurance, Media And Entertainment, Telecommunication And IT, Other Verticals
Subsegments:
1) By Software: Location Analytics Software, Geofencing Software, Mapping Software, Reporting And Visualization Software
2) By Service: Consulting Services, Deployment And Integration Services, Support And Maintenance Services
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Which Top Companies are Driving Growth in the Geomarketing Market?
Major companies operating in the geomarketing market are Microsoft Corporation, Google LLC, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Inc., Oracle Corporation, Salesforce Inc., Ericsson Inc., Adobe Inc., Software AG, GroundTruth, CleverTap, Airship, Saksoft Ltd., Bluedot Innovation Inc., Xtremepush Limited, Cuebiq Inc., Hyp3r Inc., MobileBridge, PlaceIQ Inc., Gimbal Inc., Reveal Mobile Inc., Ubimo Ltd., Cloud4Wi Inc., Plot Projects, Navigine Corp, LocationSmart, Galigeo, ESRI Business Information Solutions Inc., Flame Analytics S.L.
Which Regions Will Dominate the Geomarketing Market Through 2029?
North America was the largest region in the geomarketing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in geomarketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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